In brief: Sen. Toomey named top GOP awmaker on banking subcommittee
U.S. Sen. Pat Toomey, R-Pa., has been named the ranking member, or top Republican, on the Subcommittee on Financial Institutions and Consumer Protection, his office announced Feb. 11.
This subcommittee oversees banks and other financial institutions. It also is responsible for regulatory agencies that can affect those institutions, including the Federal Reserve, the Federal Deposit Insurance Corp., the Consumer Financial Protection Bureau, the Comptroller of the Currency and the Financial Stability Oversight Council.
Hearings and legislation often focus on regulatory relief efforts, as well as safety and soundness of the banking system and capital requirements.